Parnassus Investments LLC Cuts Position in Morningstar, Inc. (NASDAQ:MORN)

Parnassus Investments LLC lowered its stake in shares of Morningstar, Inc. (NASDAQ:MORN) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,111 shares of the business services provider’s stock after selling 923 shares during the period. Parnassus Investments LLC owned about 0.16% of Morningstar worth $23,611,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MORN. Swiss National Bank lifted its position in shares of Morningstar by 1.1% during the 4th quarter. Swiss National Bank now owns 54,800 shares of the business services provider’s stock valued at $18,454,000 after acquiring an additional 600 shares during the period. Farther Finance Advisors LLC increased its stake in Morningstar by 123.6% in the 4th quarter. Farther Finance Advisors LLC now owns 407 shares of the business services provider’s stock valued at $137,000 after purchasing an additional 225 shares in the last quarter. HighTower Advisors LLC raised its holdings in Morningstar by 0.6% during the fourth quarter. HighTower Advisors LLC now owns 16,068 shares of the business services provider’s stock worth $5,411,000 after purchasing an additional 102 shares during the last quarter. Dearborn Partners LLC boosted its position in Morningstar by 25.7% during the fourth quarter. Dearborn Partners LLC now owns 1,330 shares of the business services provider’s stock worth $448,000 after purchasing an additional 272 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Morningstar by 12.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,818 shares of the business services provider’s stock worth $2,296,000 after purchasing an additional 738 shares in the last quarter. Hedge funds and other institutional investors own 57.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MORN shares. StockNews.com raised Morningstar from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. BMO Capital Markets reduced their price target on shares of Morningstar from $387.00 to $370.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd.

Insider Buying and Selling

In other news, Chairman Joseph D. Mansueto sold 9,062 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $282.25, for a total value of $2,557,749.50. Following the transaction, the chairman now directly owns 10,038,270 shares in the company, valued at $2,833,301,707.50. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 59,542 shares of company stock valued at $18,769,523. Insiders own 37.70% of the company’s stock.

Morningstar Stock Performance

NASDAQ MORN opened at $282.49 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.55. Morningstar, Inc. has a fifty-two week low of $278.64 and a fifty-two week high of $365.00. The business has a fifty day moving average of $319.35 and a 200-day moving average of $328.76. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 37.32 and a beta of 1.23.

Morningstar (NASDAQ:MORN) last announced its earnings results on Wednesday, February 26th. The business services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.15. The firm had revenue of $591.00 million during the quarter, compared to the consensus estimate of $580.81 million. Morningstar had a net margin of 14.69% and a return on equity of 23.28%.

Morningstar Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.